Sky Deal Propels OpenTV

OpenTV Corp. recognized $5 million in royalties in the second quarter of 2004 from a deal with Sky Italia, which helped to boost company revenue and narrow its net loss.

The interactive middleware provider saw revenue jump 21%, from $15.7 million to $19.1 million in the second quarter of 2004. The company’s net loss dropped to $2 million in the quarter, compared to $9.2 million in the year earlier period.
The company also re-estimated its net loss related to its In Demand/National Association for Stock Car Auto Racing (NASCAR) interactive application, which placed $4.6 million back onto the balance sheet, and helped the company’s finances.